Binance CEO’s Prediction
Binance CEO Richard Teng believes Bitcoin’s rally will continue, driven by institutional investment in Bitcoin exchange-traded funds (ETFs). He predicts Bitcoin will surpass $80,000 due to reduced supply and sustained demand.
Digital Asset Inflows Soar
CoinShares reports a record weekly inflow of $2.9 billion into digital asset investment products, surpassing the previous all-time high. Year-to-date inflows reach $13.2 billion, exceeding the total for all of 2021.
ETP Milestone
Global exchange-traded products (ETPs) crossed the $100 billion milestone for the first time. However, due to price corrections, the total settled at $97 billion.
Regional Inflows and Outflows
The United States witnessed substantial inflows, while Canada, Germany, Sweden, and Switzerland experienced outflows. Bitcoin dominated inflows, accounting for 97% year-to-date.
Short Bitcoin Positions
Short Bitcoin positions saw their largest inflows in a year, totaling $26 million, indicating increased interest in this area.
